LuSE posts significant drop in turnover

TRYNESS TEMBO, Lusaka
THE Lusaka Stock Exchange (LuSE) recorded a significant reduction in the number of shares transacted last week resulting in a drastic decline in turnover from over K3.6 million the previous week to about K504,000 last week.
Last week, the local bourse registered a huge reduction in the number of shares transacted by about 970,000 from over 1.2 million to almost 250,000.
According to the LuSE weekly report, the local bourse recorded trade activity in 12 firms last week from 11 the previous week.
â€œDuring the period under review, a total of 253,116 shares were transacted in 68 trades, resulting in a market turnover of K504, 981 compared to a total of 1,231,735 shares transacted in 64 trades, resulting in a market turnover of K3, 631,937 the previous week,â€ the report reads.
Of the total turnover, African Explosives Limited Zambia (AELZ) accounted for K249, 203 followed by Copperbelt Energy Corporation (CEC) which registered K25, 136 while Real Estate Investment Zambia (REIZ) and ZCCH-Investment Holding recorded K57, 498 and K29, 440 respectively.
Other companies that recorded trade activity are Lafarge, Madison Finance Services, Standard Chartered Zambia, Puma, Zambeef Products, British American Tobacco Zambia, Metal Fabricators of Zambia (ZAMEFA) and Atel (formally Airtel).
On share price change, there was minimal change with only Standard Chartered Zambia posting a gain of K0.16.
Meanwhile, the LuSE-all-share-index closed the week at 4,385.33 points, up by 1.50 percent from the previous close of 4,320.71 points.
During the period under review, bonds valued at K57,197,000 changed hands in 14 transactions, yielding market value sales of K37,820,000 compared to bonds valued at K117, 264,000 which changed hands in 18 transactions, yielding market value sales of K79,560,000.
On market capitalisation, LuSE closed last week at K58.4 billion translating in to a marginal reduction from the previous weekâ€™s K58.7 billion.